Prudential Share Discussion Threads

[essentialinvestor] 20/3/2024 16:19

LUD, depends on what timeframe you are looking at, if you've held ultra long term the gains are immense, even at these levels - around 1,000% over 30 years - without divi reinventment.

With divi reinventment well over 1,500%.

[luderitz] 20/3/2024 16:17

It certainly has.

[churchill2] 20/3/2024 16:14

It’s ironical that the day the Pru reaches a new low the free shares granted to shareholders in Jackson Financial USA reaches a new high. The other portion floated off M&G has not performed to badly either. Just a pity that the main company has gone backwards for so many years.

[1jat] 20/3/2024 12:56

Cjac
My views on the current Pru. (Sorry not particularly structured as written here rather than pasted in).
The company has a number of prime positions in territories across Asia, there is diversification here, when one booms another busts, so there is always something for the optimists and the pessimists when it comes to these results. The results were presented positively and did seem to be much better than last year. The negative did appear to be the phasing of profits in 24-27 which seemed rather back loaded - and with the China re-opening in 23, it will be an achievement for 24 to be better.

The metrics for solvency are based on HK regs so it is perhaps best to compare capital strength with AIA / Ping A rather than try to compare back to UK listed stocks for comparators.
The business has been moving towards more regular premium risk business and (Health and Protection) which has improved margin.

As to the embedded value of the company, it has produced EEV and IFRS versions, both of which show the company is trading at a significant discount.

The shareholder base is an issue for Pru as its legacy is in London institutions, it needs to move more of the investor base to the Far East and that may reduce some of the East/West geo politics. Pru was trading up in HK after its results, but got trashed in London, maybe some sellers wanted to sell into the bounce but overwhelmed the London appetite to buy turning it to a selling frenzy.

The business case (addressing the protection and savings needs across Asia), is still strong and the addressable market should continue to increase. There do not appear to be operational issues relative to competitors. However the investment case rests on whether the geo political risk is adequately rewarded in the discount to book value + dividends and other shareholder value returns.
I am not sure that analysing the accounts or business presentations is going to help with this problem- but it will highlight the discount to book value. As we know other UK Financials also trade at large discounts to Book value and that is largely driven by sentiment.
Not sure what teh company can do to create a break to the upside while is faces into continued friction between China and the US.

[careful] 20/3/2024 12:37

I am out of step with everyone these days.

I think Putin has an understandable position wrt Ukraine and Crimea, the most modest understanding of the history of the last 300 years, particularly the last 100 years, would confirm this.

Also China and its relationship with Taiwan and Hong Kong is bound to be important to them. I see their point of view.

Sending warships to the South China Sea makes me shudder. I would be more fearful if China or Russia sent warships to the Gulf of Mexico.
America would consider that to be a provocative act of war.

[jubberjim] 20/3/2024 12:09

Porsche

The medication obviously ain t working but keep trying.

You ll get it right next time.

[jubberjim] 20/3/2024 12:05

As long as Xi continues to wave his arms(sic) and obliquely continue to make menacing noises in the direction of Taiwan then we are in for more of the same.

It is time and that time maybe now that people are starting to question of buying Chinese manufactured goods whether it be toys or EVs

In some cases there is not a lot of choice but I can live without them and live with my inner voice a lot more easily.

[jubberjim] 20/3/2024 11:19

Have picked 707 as suitable re-entry point

Don t know whats going on but havent been here since mng was sent on its way.

[bookbroker] 20/3/2024 11:10

Way this has reacted today you have believed they had issued either a profits warning or a major solvency issue!

[suetballs] 20/3/2024 10:55

I doesn't help that the ftse is so unloved too.
Suet

[action] 20/3/2024 10:52

Results good and divi to come in week. Can't see 600p. But what you don't expect do happen. SODS law.

[suetballs] 20/3/2024 10:51

My average is £9.50 - and I have bought more recently.
I certainly thought Asia would be great but I like others have been proved wrong.
So I blame myself for buying this pile of poo.
Suet

[dope007] 20/3/2024 10:47

I don't have any shares here but it's amazing how this has fallen since 10 or 15 years ago

[elliotset] 20/3/2024 10:47

Where your average

[bookbroker] 20/3/2024 10:46

Just an awful company, there should be class action suits taken out against companies like this for willful destruction of shareholder value.